Latest / Your Local Real Estate Expert - The Schultz Realty Podcast / EP07: Avoid Surprises: Breaking Down the Costs of Selling
Transcript
- Hi, I'm Sarah Schultz and welcome to your local real estate expert, the Schultz Realty Podcast. As the award winning number one agent and agency for Mount Warren Park, Bahrs Scrub and Windaroo, I've been helping buyers find their dream homes and exceeding sellers expectations on price and service in our area for over 10 years. Known as the property matchmaker. I'm here to share stats, facts, and insights to make your real estate journey in the local area seamless and successful. Selling a home is exciting, but let's be honest, no one likes surprises, especially when it comes to costs, knowing what to budget for upfront can save you stress time and money down the line. Hi, I'm Sarah Schultz and welcome back to your local real estate expert, the Schultz Realty Podcast. Today's episode is a must listen for anyone thinking about selling their property. We're diving into the Complete Guide to Selling Costs in Queensland, everything you need to know to budget smartly, avoid unexpected surprises and ensure a smooth, profitable sale. Selling a house is a big decision and being informed about the costs up front will give you confidence and controls throughout the process. From agent fees and marketing expenses to legal cost staging and even those hidden fees that you think you may have overlooked, I'll try to cover it all today. And don't worry, I'll include plenty of tips along the way to help you save money where it counts. If you're a homeowner considering selling, grab a notebook and a cup of coffee because this episode is packed with valuable insights to help you stay informed and in control of your budget. So let's start with one of the biggest costs of selling, the real estate agent fees and commissions. In Queensland, agents typically charge either a percentage based commission or a fixed fee depending on the property and the market. Percentage based commissions usually range between 2 and 3. 5 percent of the final sale price. Here in Bahrs Scrub, Mount Warren Park and Windaroo, the average commission sits around two and a half percent plus GST, which is fairly standard for Queensland. So what exactly does this commission cover? A lot more than you think. It's not just about putting up a for sale sign, it's about including expert negotiation to get the absolute best price, managing all of the buyers, coordinating the open homes and guiding you through the entire process of sale from start to finish. Here's my tip, a great agent doesn't just sell your home, they maximize your profit as well. They'll create a selling strategy tailored to your property, the market, the buyer demand to ensure you achieve the best possible outcome. The next cost is to consider is the marketing expenses and this is an area where it really pays to be informed. Marketing is critical to attracting every buyer in the whole of Australia, but it's also where sellers sometimes spend unnecessarily. A good agent will tailor the marketing strategy to suit your needs and budget while making sure your property gets maximum exposure. Here's a common breakdown of the most common marketing expenses. Professional photography is usually between 300 and 700 for high quality photos that showcase your home beautifully. Floor plans and virtual tours typically range from 200 to 400 and they're especially important for attracting out of area buyers, particularly busy professionals. Drone photos and videos are on top of that, but attract even more buyers when showcasing online. Then there's online advertising platforms like realestate. com, domain, realestateview, which offer different packages that usually each cost between 500 and 4, 000 depending on how much exposure you're after, which platform it is, and what it actually includes. Social media is another fantastic tool for reaching buyers, with targeted campaigns starting from as little as 50 to 700, depending on how long you want to market and how much you want to spend. When done properly, these ads can go a long way towards generating interest and creating competition. Don't forget signboards and brochures. Depending on the style and size, these can cost anywhere from 200 to 500. Here's the thing, a well marketed home doesn't just sell faster, but it attracts more buyers, which will lead to a higher sale price. And in the recent market, multiple offers, which in turn happens a lot, gets you even more. That's why I always say, think of marketing as an investment to your result, not an expense. Next on the list are legal and conveyancing fees. In Queensland, you'll need a solicitor or a property conveyancer to handle your legal side of your sale, including preparing contracts, conducting title searches, and overseeing settlement. This is a non negotiable part of the process, and you can typically expect to pay anywhere between 600 and 1, 000. 50 to 2, 000, but for seller's side, it usually works out around that 700 to 1, 000 is the average. And also I might add, I do prepare the contracts myself, so there's no cost there. While it might be tempting to cut corners, I can't stress enough how important a good conveyance actually is. They ensure everything runs smoothly and protects you from costly legal mistakes that could delay your sale and cost you more. So don't go for cheap. Now, let's talk about staging and presentation costs, which can be a huge impact on your final sale price. Staging is about presenting your home in the best possible light so buyers can see its full potential. If you hire a professional stylist to stage your home, you're looking anywhere from 2, 000 to 4, 000, depending on the size of your property. But if you're a bit on a tighter budget, there is staging that you can do at home, DIY, that make a big impact. Packing away your clutter, cleaning thoroughly, small touches like fresh flowers, nice smells, coloured towels, good cushions. Here's my budget friendly tip. You can pick up some throws, cushions and linens from Kmart or Big W for less than 100 and they can make a massive difference in photos and inspections. Also, another way is virtual staging, which ranges around 50 per room, which I find goes a long way in this market and makes the photos look great if the house is empty, but way less expensive. Another cost sellers often overlook is a pre sale building and pest inspection. While buyers typically arrange these inspections, commissioning your own before listing gives you a competitive edge at times. It's not imperative, but it is advantageous if you find out anything that you need to fix on the property prior to it going on the market. This will make sure that no contracts fall over before settlement. Costs between 500 and 700 but I believe it is worth it. Not every seller needs to renovate. But small renovations or upgrades can yield a fantastic return on investment. Fresh paint is one of the most cost effective upgrades. An internal refresh will cost 3, depending on size, but it can compellingly transform your home. Landscaping is a great option. Fresh mulch, tidy hedges and a well maintained lawn can cost as little as 500 and dramatically boost your curb appeal. Even small touch ups like new tapware or handles in the kitchens or bathrooms can give your property a modern, polished look for minimum cost. Now let's quickly touch base on government fees and taxes. These include mortgage discharge fees, which usually sit between 300 and 500, and title transfer fees, which range from 150 to 300. If the property you're selling isn't your primary residence, you may also have capital gains tax. So it's worthwhile speaking to your accountant to understand what this might mean for you. If you're selling via auction, there's also additional costs to consider, like auctioneer fees, which are usually between 500 and 1, 000, and any extra marketing to create buzz leading up to the big day. And finally, don't forget about moving costs. Professional removalists will typically charge between 100 and 300 depending on how far you're moving and how much you have to pack. If you need temporary storage, there's usually an additional 100 to 300 per month. So there you have it, your complete guide to selling costs in Queensland. While the list might seem long, being prepared and budgeting for these costs up front will ensure a smooth, stress free sale. Remember, working with an experienced agent makes all the difference. At Schultz Realty, I'm here to help you navigate these costs, plan effectively, maximize your profit on your sale. If you're planning to sell your property, I would love to help. Visit www. schultzrealty.com. au or give me a call. Together we'll make the next step forward, achieving the best possible result. Easy and fun. Thank you for tuning in with me, your local real estate expert, the Schultz Realty Podcast. I'm proud to serve Mount Warren Park, Bahrs Scrub and Windaroo as a knowledgeable, caring and reliable resource for all your real estate needs. Whether you're buying, selling, or just exploring your options, I'm here to help you exceed expectations and make that perfect match. If you enjoyed this episode, don't forget to subscribe so you never miss an update and share it with another local who might find it helpful. Until next time, take care and remember the perfect property is just around the corner.